WASHINGTON — Initial unemployment claims dropped back to a level indicating moderate job growth last week after a spike the previous week raised alarms about the labor recovery.

The number of people filing for unemployment benefits for the first time stood at 340,000 for the week ending Saturday, falling from a revised 363,000 the week before, the Labor Department said Thursday.

Economists had expected the closely watched jobless claims figure to drop last week to 345,000.

Claims for the week ending May 11, revised up from 360,000, had the biggest one-week jump since last fall and were the most since March.

The jump surprised analysts after steady improvement had brought the number of claims below 330,000 for the first time since early 2008, when the Great Recession had just begun.

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